Deputy Finance Minister Vasily Shkuratov announced the suspension of the ban to local budgets to place temporarily free funds of the General Fund on Deposit up to 2020, reports Interfax-Ukraine
“We have not banned any placements of funds from the General Fund of local budgets – we have suspended this decision literally for this year, to local budgets shifted”, – he said during the presentation of the report on execution of state budget for 2018 on Friday.
The Deputy Minister also said that local budgets in the current year has allocated about RS 5 billion in government bonds.
“Great interest from local communities to government bonds. And lions, and even Borispol to Mariupol, the Dnepr interested in this tool. They asked for clarification how it works, and today, banks, government including implementing some mechanisms and cooperate with the local communities to look for the best opportunities to embed these resources,” he explained.
As reported, the Cabinet of Ministers on January 23 banned the local budgets to stir the temporarily free funds of the General Fund in Deposit accounts.